Muthoot Finance Ltd BUY AND STOCK OF THE VIEW

 

Muthoot Finance Ltd  BUY 2037 ABOVE  TARGET 2103/2198 SL 1950

Let's break down the technical analysis of Muthoot Finance Ltd (NSE) using the chart you've shared, considering target, stop loss, support & resistance levels, and the short, medium, and long-term views.

📊 Technical Indicators Used: Fibonacci Retracement Levels: Key levels drawn from ~₹2,198 (high) to ~₹1,963 (low)

RSI (Relative Strength Index): Currently around 44-49, indicating neutral to slightly weak momentum

Volume: Low but spiked near the bounce, showing some buying interest.

Trend: Downtrend from ~₹2,200, then consolidation, now bouncing near the 0.382 Fib level.

🔍 Key Support and Resistance Levels: Support Levels: ₹1,963.25: Strong support zone (marked with blue line) and also near 0.382 Fibonacci level (₹1,971.10)

₹1,900–1,960: Demand zone; price bounced from here

₹2,011.80: Current market price, showing consolidation

Resistance Levels: ₹2,037.40 (Fib 0.5 level): First resistance

₹2,103.70 (Fib 0.618): Key resistance, break above could signal trend reversal

₹2,198.10 – ₹2,200.35 (Fib 0.786 & horizontal): Major resistance and previous supply zone

🎯 Trade Setup & Levels: Short-Term View (Next few days): Trend: Sideways to mildly bullish (bounce from support + RSI recovering)

Buy Above: ₹2,037 (on good volume)

Target 1: ₹2,103 (Fib 0.618 level)

Target 2: ₹2,198–₹2,200

Stop Loss: ₹1,963 (below recent support)

Medium-Term View (1–4 weeks): Bias: Cautiously bullish if it sustains above ₹2,037

If it breaks and sustains above ₹2,103, expect:

Target: ₹2,200–₹2,250

Stop Loss: ₹1,950 or trailing SL as it moves up

Long-Term View (1–3 months): Bias: Needs confirmation of reversal

A breakout above ₹2,200 on volume + retest can lead to:

Target 1: ₹2,350 (previous swing high)

Target 2: ₹2,450+

Stop Loss: Below ₹2,000 or trendline depending on entry point

📉 Bearish Scenario: If price breaks below ₹1,960 with volume:

Short-term Target: ₹1,925 → ₹1,900

Stop Loss for Shorts: ₹2,011

RSI breaking below 40 with volume spike confirms downside momentum

⚖️ Summary Table: Term View Buy Trigger Targets Stop Loss Short-Term Mildly Bullish ₹2,037 ₹2,103 → ₹2,200 ₹1,963 Medium-Term Cautiously Bullish ₹2,103 ₹2,200 → ₹2,250 ₹1,950 Long-Term Await Breakout ₹2,200 ₹2,350 → ₹2,450+ ₹2,000 (or trailing)